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Understanding intertemporal choices
Applied Economics, 2006Previous experimental results show clearly that many subjects do not optimize when solving a life-cycle consumption problem. What do they do? This paper attempts to resolve this question, looking at the discounting, hyperbolic and rolling models as possible explanations.
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2010
A Clark’s nutcracker (Nucifraga columbiana) flies to the top of a pine tree and selects one of the many cones. She twists and pecks at the stem until the cone breaks free from the branch and, with one foot, holds the cone in the crotch of a branch. She then repeatedly hammers her long bill in between the scales of the cone.
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A Clark’s nutcracker (Nucifraga columbiana) flies to the top of a pine tree and selects one of the many cones. She twists and pecks at the stem until the cone breaks free from the branch and, with one foot, holds the cone in the crotch of a branch. She then repeatedly hammers her long bill in between the scales of the cone.
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The neural predictors of choice preference in intertemporal choice
Brain Research, 2012Intertemporal choice may involve two processing stages: a valuation stage and a choice stage. Decision makers must integrate the various dimensions of an option (e.g., money, time) into a single measure of its subjective value (the valuation stage) and then choose the option that is the most valuable (the choice stage).
Tingyong Feng
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Intertemporal choice in Parkinson's disease
Movement Disorders, 2011AbstractThe administration of dopamine agonists in Parkinson's disease has been associated with impulse control disorders, in particular, pathological gambling. In the present investigation, 17 patients with Parkinson's disease without impulse control disorders and 17 matched control participants were offered choices between monetary rewards (ranging ...
Maria, Milenkova +7 more
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Habits and the Anomalies in Intertemporal Choice
Management Science, 1997This paper analyzes a model of discounted utility under habit formation. Habit formation means that utility in each period is determined by the difference between the received outcome and the customary outcome at that point in time. Preferences are rational, in the sense that the decision maker correctly anticipates the habit formation process and ...
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Intertemporal choice and the magnitude effect
Games and Economic Behavior, 2011zbMATH Open Web Interface contents unavailable due to conflicting licenses.
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Is Intertemporal Choice Theory Testable?
Journal of Mathematical Economics, 2004Kreps–Porteus preferences constitute a widely used alternative to time separability. We showin this paper that with these preferences utility maximization does not impose any observable restrictions on a household’s savings decisions or on choices in good markets over time.
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Discounting by Intervals: A Generalized Model of Intertemporal Choice
Management Science, 2006Marc Scholten, Daniel Read
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